Solar Energy Initiatives Signs Development Deal for Solar PPA Project

Solar Energy Initiatives, a company operating in the solar power development market, has declared that the company has arranged to secure a developer fee as well as the reimbursement of project expenditures on a 1-MW solar power purchase agreement (PPA) project with ESA Renewables.

ESA Renewables will offer the solar panels and related devices to the project, which is expected to be completed by early April 2011. Solar Energy Initiatives has worked as the project developer providing services such as the designing of the project, permitting, managing the construction process and organizing for the supply of some of the solar devices and other associated equipment of the system.

The Chief Executive Officer at Solar Energy Initiatives, David Fann said that the deal proved that the company is selecting only profitable projects. The company would develop more solar power projects in existing as well as in new markets, he added.